In Today’S Global Market, China Is One, If Not The World’S

Since the reform and opening up, the economy of China grows significantly, as an emerging economy, China's economy has made tremendous contributions to the global economy, and Renminbi has become one of the most important currency in the world. According to the survey conducted by China National Bureau of Statistics found that from 1979 to 2012, China has attained an annual average growth rate of 9.8% for its national economy, while the annual average growth of the world economy is only 2.8 % during the same period. In past 30 years, China's GDP surpassed Japan’s, China became the world 's second largest economy, in addition, the huge total volume of trade makes China become the world 's largest trading nation. The contribution of China’s

In 1949 Mao Zedong and his communist revolutionaries had won control of China after a civil war that had lasted more than 20 years. Mao’s revolution was based on a society where the workers control the government. During this time China was a substandard country due to the years of war, disease, and natural disaster. To help make china stronger Mao called for couples to have more babies because babies equal more workers and more work leads to a stronger China. To help economically, people were forced to abandon farming and help aid an industrial China, thus known as The Great Leap Forward. With the replacing of farms, China was reconciled to food shortages, which then led to the killing of an estimated 30 million people. Therefore mao turned

Around the time Ma Yin Chu began to publish articles on population, the Communist rule took over in China. The Communist were ruled by Mao Zedong. Mao directed most of his energy into the Chinese economy. In 1958, Mao created an economic plan called the great leap forward. This plan called for the people to use their will power to improve the economy. The lack of technology and capital made the plan back fire and lead the people into the great famine.

In October 1949, the People’s Republic of China (PRC) was established and led by Mao Zedong. China’s new communist leaders turned their backs on China’s traditional output (based on individual and small scale household production) economy and set out to create a massive socialist industrial government inspired by the Soviet Union. This idea introduced a model, which prioritize industrialization known as the “Big Push Model”. China started prioritizing investments into the heavy industry, which would reshape the Chinese economy and create a Command economy. Mao’s economic policies seemed be working in the

The rise in China from a poor, stagnant country to a major economic power within a time span of twenty-eight years is often described by analysts as one of the greatest success stories in these present times. With China receiving an increase in the amount of trade business from many countries around the world, they may soon be a major competitor to surpass the U.S. China became the second largest economy, last year, overtaking Japan which had held that position since 1968 (Gallup). China could become the world’s largest economy in decades.

When Chairman Mao took control of the Chinese government as leader of the newly established Communist Party, he was most notably commended for helping unite China after years of civil war. After the previous regime left the country nearly bankrupt, Mao faced the challenge of rebuilding China’s economy, and he believed that it could only be accomplished through true Communism, modeled after the Soviet Union. Mao’s vision was highly approved by the people initially as it reinvented the working class and gave more power to peasants, but it was not long before the country would see the detrimental impacts of Chairman Mao’s goals. The Communistic approach to rebuilding China made several changes in the agricultural sector that lead to severe consequences, before the country eventually recognized its problem and identified a solution.

Globalisation is the process by which each individual country and economy is converging into a larger global economy. Globalisation has many impacts both positive and negative. In recent decades globalisation has had strong impacts in China and thus is predicted to be one of the 4 largest economies by 2050(BRIC). Trade investment is a strong factor in the Chinese economy as it relies on trade to support it. China will import primary goods, manufacture them, and then it will export the goods back overseas. They are able to do this more efficiently than other countries because they have extremely cheap labour. Exports increased from US$ 10.89 billion in 1978 to US$ 561.4 in 2004 this a 5000%+ increase in trade. This massive increase can be contributed to the exporting of manufacturing to China. However in the current GFC, both exports and imports are down 25% in February 2009 from the same time in 2008.

China is currently the 2nd largest economy in the world, trailing the us and set to overtake the us economy by 2024 according to the IMF. GDP of china has grown extensively over the past three decades and have contributed to large scale growth in exports and imports, technological advancements, health, and more. The acceleration of globalisation was due to two major advancements, the first was the economic reforms of 1978 when china ‘opened the country’ and the joining of the WTO in 2001. China is classified as a socialist economy currently being ruled by a communist government. China’s current growth rate for GDP is recorded as being 7.7% in 2013 and has continued to slowdown over recent years due to a global economic slowdown.

China’s thirty year run of almost 10% GDP growth is legendary and there are many reasons for this phenomenal growth. The journey of a poor communist country of the 1950s to a world economic superpower today reads like a novel comprised of economic plots and sub-plots along the way.

China is the most populated country in the world, and currently has the world’s fastest-growing major economy. It has allowed the country to advance into today’s modern society. The current government structure is a single-party socialist state where communism has prevailed even since 1949. One of the biggest impacts on the country and its markets has been globalisation, which has enabled China to move from a centralised economy to a market based economy. This change in the economic system allowed the GDP to increase by around 10% annually. Consequentially, more than 500 million of its population enjoys a better living standard. In this report we will focus on different aspects of the Chinese market, examining key factors

In the past China was not to able sustain its own economic well being, let alone be an economic super power. The standard of living in China was so low, that something as simple as a light bulb was a luxury (Fogel, 2006). After the Cultural Revolution and Communism set in, China’s economic luck started to change. Between the years 1978 and 1998, a mere twenty years, China’s Gross Domestic Product (GDP) has grown an average of eight percent annually. The eight percent annual GDP growth has made China one of the fastest growing economies in the world (Fogel 2006).

To begin, an analysis of capital reveals China has overtaken Japan to become the world’s second largest economy. China’s growth rate of 9 to 11 percent annually over the last 20 years, ranks first, with India not far behind at 8 percent in recent years—while the United States, Japan, and Germany have been growing at a steady 2 to 4 percent. China’s sustained high rate of growth is unprecedented in the

China takes a huge role in the global economy. If you will pay attention on any goods around, it can be noticed that the majority of products produced in China. The economic system in this country is enormous. In the 21st century, no country has attracted as much attention to itself as China. In an amazingly short period of time, China increased economical level of the country and developed itself rapidly, however for most modern advanced countries this process took centuries. Every year China increased its impact on the world economy and politics and still doing so. If earlier this influence was only related to the growing share of China in world trade, GDP and manufacturing, in the second decade of the 21st century Beijing started to effectively use the process of globalization for its economic recovery. China began to pursue a policy of restructuring the global rules in accordance with Chinese interests. Due to this, China has influenced some significant impacts on other countries and world economy.

multifaceted role in China’s economic development. At the same time, China’s expanded role in the world economy is

It should be noted that Mao was extremely in favor of the advancement in agriculture production. He believed agriculture to be one area where it could be used politically and economically to promote his socialist agenda. Like science and technology, Mao believed that the intelligentsia will progress the advancement of agricultural production as well. It should also be noted that in 1954, China is still a new-born republic. Since the creation of this republic, it decided to follow the Soviets plan which focussed on industrialization. Therefore, in China, Stalin and the Soviets were seen as someone to be emulated and were regarded as the prime face of development.